NEW YORK (AP) — U.S. financial markets are lower today. As of 10:30 a.m. Eastern time, the Dow Jones industrial average fell 46 points to 16,523. The S&P 500 fell seven points to 1,932. And the Nasdaq composite fell 15 points to 4,369.
WASHINGTON (AP) — U.S. home prices are still rising, but not as quickly. They rose in June by the smallest year-over-year amount in 20 months. Data provider CoreLogic says prices rose 7.5 percent in June compared with 12 months earlier. That’s a solid gain but less than the 8.3 percent year-over-year increase in May. Price increases have been slowed by modest sales and more properties coming on the market.
WASHINGTON (AP) — Orders to U.S. factories increased in June, led by demand for aircraft, industrial machinery and computers and electronics. The Commerce Department says orders rose a seasonally adjusted 1.1 percent compared to the month before. Factory orders had fallen 0.6 percent in May after three straight months of gains. An 8.4 percent jump in demand for commercial aircraft fueled the latest gains. Over the past year, factory orders were up 2.5 percent.
WASHINGTON (AP) — U.S. services firms grew at the fastest rate in more than eight years in July. It’s the latest sign of an economy picking up speed in the second half of the year. The Institute for Supply Management says its service-sector index jumped to 58.7, up from 56 in June. Any figure above 50 indicates expansion. June’s reading is the highest since December 2005.
WASHINGTON (AP) — President Barack Obama plans to announce today that U.S. businesses are committing $14 billion to invest in Africa. Obama will appear at the U.S.-Africa Business Forum in Washington, which brings together African heads of state and American business leaders to find ways to boost economic ties. The gathering comes on the second day of a U.S.-Africa summit involving nearly 50 African heads of state.
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